Executive Briefings

U.S. Senate Votes to Ratchet Up Sanctions on Iranian Energy, Transportation Sectors

The U.S. Senate has approved new sanctions on trade with Iran's energy, port, shipping and shipbuilding sectors, designating these areas as entities of proliferation.

According to published reports, the new set builds on existing U.S. sanctions but keeps exemptions for countries that have made significant cuts to their purchases of Iranian crude oil. Senators voted unanimously (94-0) to make the new sanctions part of an annual defense policy bill.

Under the new rules, the United States would sanction anyone selling or supplying certain commodities to Iran - including graphite, aluminum, steel and some industrial software - that are relevant to the country's shipbuilding and nuclear sectors.

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According to published reports, the new set builds on existing U.S. sanctions but keeps exemptions for countries that have made significant cuts to their purchases of Iranian crude oil. Senators voted unanimously (94-0) to make the new sanctions part of an annual defense policy bill.

Under the new rules, the United States would sanction anyone selling or supplying certain commodities to Iran - including graphite, aluminum, steel and some industrial software - that are relevant to the country's shipbuilding and nuclear sectors.

Read Full Article